Kimball International Inc. uses the LIFO method of accounting for inventory. In its 2017 inventory footnote Kimball reported a LIFO reserve of $19,500 and $21,100 at June 30, 2017 and 2016, respectively. Selected data from the financial statements is below 2017 2016 Total inventory $89,489 $76,146 Net Sales 923,636 895,912 Cost of Sales 664,311 645,591 Gross Profit 259,325 250,321 Earnings per Share $2.15 $1.96 a. Compute the inventory amount at June 30, 2017 for Kimball International Inc. assuming that it had used the FIFO method of accounting for inventory. (3 points) b. Does Kimballs use of LIFO rather than FIFO affect its cash flows? Explain briefly. (2 points) -- Font family --Andale MonoArialArial BlackBook AntiquaComic Sans MSCourier NewGeorgiaHelveticaImpactSymbolTahomaTerminalTimes New RomanTrebuchet MSVerdanaWebdingsWingdings -- Font size --1 (8pt)2 (10pt)3 (12pt)4 (14pt)5 (18pt)6 (24pt)7 (36pt)